GIVE RETIREES 1.5% COLA/FUNDS.

Printer-friendly: Click to view
View NCGA Bill Details2015-2016 Session
Senate Bill 834 (Public) Filed Tuesday, May 10, 2016
AN ACT TO PROVIDE A COST-OF-LIVING ADJUSTMENT FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM.
Intro. by Daniel, Randleman, Barefoot.
Status: Ref To Com On Appropriations/Base Budget (Senate Action) (May 11 2016)

Bill History:

S 834

Bill Summaries:

  • Bill S 834 (2015-2016)
    Summary date: May 10 2016 - View Summary

    Amends GS 135-5, concerning retirement benefits for teachers and state employees, adding new subsection (uuu), providing for cost-of-living increases of 1.5%.

    Amends GS 135-65, concerning retirement benefits for individuals in the consolidated judicial retirement system, adding new subsection (ff), providing for cost-of-living increases of 1.5%.

    Amends GS 120-4.22A, concerning retirement benefits for members of the legislative retirement system, adding new subsection (z), providing for cost-of-living increases of 1.5%. 

    Appropriates $63 million from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments for the 2016-17 fiscal year to implement the cost-of-living adjustment authorized in this act.

    Effective July 1, 2016.

    Courts/Judiciary, Court System, Employment and Retirement, Government, Budget/Appropriations, General Assembly, State Government, State Personnel
    APPROP, GS 120, GS 135
View: All Summaries for Bill